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Classic!
The man said I hope you get Chlorea and the Pauge.....wow!
Yep the Wall Street movie!
Oldest Actor still working!
Happy belated Birtday for Eli Wallach ....you know the good the bad and the ugly.....
I think the deal will be done monday.... Sorry you missed it!
Just a group of nomads forging an identity. However, they unlike others included warts and all in portraying thier dirty.
You should sticky that!
Ok good post I agree to a lesser degree!
I was wrong
The origin of marijuana, or hemp, (Cannabis sativa), was the Causcusus region of eastern Europe, India, and Iran but now can be found growing all over the world in warm to temperate regions. You can read "A Description and Natural History of Hemp" from the University of Texas Institute of Cellular and Molecular Biology.
God!
Damn another Wal Rus!
Sorry about your mom....my Dad has DEMTIA .......horrible diseases.
Not sure Weed is native to Israel.
Lol.....you got higher than me! However, I attained the same rank as Hitler.
Thanks for the posts.... Yes and no....of course they are a collection of stories.....but it's mans early attempts to understand God. Somebody sat down and wrote all the stories he had heard.....remarkable since writing was in it's infancy. The story of Adam and Eve is a classic no matter what you believe in. My take....we know the difference between good and evil....and we all die.
Are you a Pagan?
You seem old to me.....lol!
Lol....Can't figure you out..... You served got up there then quit. Ie Military Service!
Ok liberals....let Syria use Chemical Weapons...... We bomb them..... Two revolting questions.
We could be posting on the Tornado Board...ooops they ban posters they don't like! EDIT Thanks Mods!
God! idiot!
New is quite horrible!
Study the Bible.... It helps!
Could you actually post here as you?
How old are you?
Sitting on the sidelines when the Monday Premarket News hits....... Is no place to be.
Let's go Green!
Share on emailEmail Share on printPrint Should You Invest in This Market-Maker?
By Mike Thiessen - December 6, 2012 | Tickers: KCG, BX, TD | 2 Comments
Share on emailEmail Share on google_plusonePrint Mike is a member of The Motley Fool Blog Network -- entries represent the personal opinions of our bloggers and are not formally edited.
On Nov. 28, Knight Capital (NYSE: KCG) confirmed that it had received two buyout offers from trading firms Getco Holding Company and Virtu Financial LLC. Both of these private companies have reportedly offered more than $1 billion for the electronic market-maker.
Based in Jersey City, New Jersey, Knight Capital is one of the largest electronic trading firms in the United States. The company specializes in routing orders from retail brokerages and executing them on the New York Stock Exchange and elsewhere. It regularly handles trades for nearly 20,000 stocks and is responsible for routing billions of shares every trading day. For years, it was one of North America's most respected electronic market-makers.
During the summer of 2012, Knight Capital was found to be responsible for a massive trading disruption that affected the stock prices of dozens of high-volume firms. The glitch forced the cancellation of virtually all of the firm's August 1 trades and caused the company to take a one-day loss of $440 million. For comparison, Knight's total revenue for the second quarter of 2012 was about $290 million. In response to the debacle, its stock dropped by more than 75 percent within the space of a few days. It bottomed out at around $2.25 and had climbed to the $3 range before news of the buyout offers broke.
These two buyout offers differ in several key respects. Virtu looks to take the company private by purchasing all of its outstanding stock for about $3 per share. This would represent a discount of 36 cents to Knight's Dec. 5 closing price. Should they approve Virtu's offer, Knight Capital shareholders will take a haircut of about 11 percent on the basis of the latter valuation. The total value of this all-cash deal would approach $1.1 billion.
As part of this proposal, all of Knight's existing shareholders would be paid off in cash and Virtu would become its sole owner. It's likely that Virtu would quickly sell Knight's non-core operations as part of the deal and integrate the company's trading platform into its own. Although Virtu's offer is worth at least $300 million less than Getco's, its simplicity and the fact that it's comprised of upfront cash payments may make it attractive to rank-and-file shareholders.
Getco's offer is more complex. Backed by Connecticut-based private equity firm General Atlantic, Getco plans to bolster its already-existing 24 percent stake in Knight with a hybrid deal valued at about $1.4 billion. Under the proposed terms of the deal, Knight would issue 242 million fresh shares of stock and provide exclusive purchase options to current Getco investors. The company would then buy most of Knight's outstanding shares for $3.50 per share. This would represent a 4.1 percent premium to Knight Capital's closing price.
News of the buyout offers comes at a welcome time for Knight's embattled management team. The company's postponement of a Dec. 3 investor conference suggests that its board is weighing these offers seriously. Board members have stated publicly that each offer will be reviewed in full during the week of Dec. 3.
Meanwhile, financial mavens and institutional investors appear to see some value in Knight Capital at its current share price. After the August trading disaster, a number of major public and private firms participated in a high-profile bailout of the company. All told, a consortium that included the Blackstone Group (NYSE: BX) and TD Ameritrade purchased a majority stake worth about $400 million. This move underscores Knight's prominence within the financial industry. Blackstone Group and TD would make a tidy profit if one of these deals went through.
Might regret that one.
I hope we get news today....Monday at the least. I wouldnt take a chance of not owning any over the weekend.
Well thought out logical post.
I disagree.... so do the companies that are buying it. Joyce wont accept anything less than 5 bucks. They will pony up.
New deal could come Monday..... Going to be a good day.
People who follow Knight say the deal could be consummated as early as this Monday, but talk to executives at the firm and they will tell you that they still believe the firm’s chief executive, Tom Joyce, will hold out for more money, and rebuff the bids offered by two outfits that specialized in so-called high-frequency trading: Getco LLC., and Virtu Financial.
Virtu has made an all cash bid of between $3 and $3.20 a share for Knight, and according to people close to the firm and it has assembled strong financial players to back its offer. Virtu executives say private equity powerhouse Cerberus has agreed to contribute at least $200 million to the deal.
Getco’s bid is more complex for investors to digest; it is offering a combination of cash and stock it says is worth $3.50 a share. But what gives this bid strength is that both Getco and its adviser, Jefferies Group (JEF), control close to 40% of Knight’s stock since both were part of the team of investors that bailed out Knight after that now infamous trade landed the firm perilously close to insolvency.
“Tommy is telling people he can walk away from this deal,” said one Knight employee who spoke on the condition of anonymity. “First we’re making money and we were making a lot of money before the trading screw up. That’s why he’s telling people maybe the firm is worth $4 or $5 a share. He’s also saying that this isn’t all about the stock price; he’s thinking about the employees as well.”
The three headed dog has spoken.....
Virtu has made an all cash bid of between $3 and $3.20 a share for Knight, and according to people close to the firm and it has assembled strong financial players to back its offer. Virtu executives say private equity powerhouse Cerberus has agreed to contribute at least $200 million to the deal.
That's quite big...... Knight. Flexing it's muscles...buyout just went up! This Prom date is quite expensive!
If you have info please inform the SEC!
Really....it's traded on the NYSE ....... Short interest is known......really dude?